Google is heating up the online storage competition by slashing some of its Google Drive prices.

According to Google's official blog, the company is cutting the price of its monthly 100GB plan from $4.99 to $1.99, and is majorly slashing the price of its 1TB plan from $49.99 to only $9.99 per month.

The 15GB plan remains free, while 10TB is $99.99 per month, 20TB is $199.99 per month and 30TB is $299.99 monthly.

These are some great deals, considering Google Drive competitor Dropbox charges $9.99 per month for 100GB.

"Having launched Google Drive just two years ago, we’re excited that so many people are now using it as their go-to place for keeping all their files," said Scott Johnston, Director of Product Management at Google. "Today, thanks to a number of recent infrastructure improvements, we’re able to make it more affordable for you to keep everything safe and easy to reach on any device, from anywhere."